Q: When I apply for financing, does it do a hard or soft pull on my credit report?
A: It depends. Elbac Roofing has relationships with various financing partners, including Dividend and Service Finance (primary partners), Foundation Finance (secondary partner), and Fortiva (last-look partner). Dividend is able to determine eligibility with a soft pull of your credit. If you do not qualify with our primary financing partner, a hard pull of your credit is likely needed to determine your eligibility for financing.
Q: What credit bureaus do each of your financing partners use to determine eligibility?
A: Dividend uses Experian and Transunion credit scores (soft pull). Service Finance and Foundation Finance both use Transunion credit scores (hard pull). Fortiva is a revolving credit option, similar to a credit card.
Q: Do I apply for financing at the time of my appointment?
A: Yes. Your Home Solutions Specialist will inform you of the basics of our financing options, and you will be able to complete a financing application in your home. If you are approved, and agree with the option presented to you, you’ll sign the loan documents on the spot.
Q: What happens if my first application for financing is declined?
A: If your initial financing application is denied, you will be asked to complete an online application so we can determine your eligibility with our secondary financing partners.
Q: Can I finance my project if it is not a roof replacement project?
A: Yes. Financing is available for any of our trades, though some minimums and restrictions apply. Speak to your Home Solutions Specialist during your appointment about financing roof repair, gutters, insulation, or other trades’ projects.
